Gamification 101

Where Everyone Wins…and Gift Cards Keep Giving

It’s an age-old concept that starts in childhood: Reward the behavior you want to encourage.

In today’s world, the name-of-the-game is loyalty.

And in business, the game is serious. Reinforcing consumer behavior, building preference and motivating purchases have real dollars at stake. Lost customers translates into lost revenue. Conversely, repeat customer purchases translate into new (and more profitable) revenue, word-of-mouth sales spikes and valuable lifetime customers. All are measures of corporate health and prosperity.

As a best-of-the-best mashup from top gamification sites, this post spotlights market trends and case study examples to help you win customer hearts and minds through gamified customer engagement.

One Point to Keep in Mind

The best gamification tools, programs, software and strategies rely on a single fulcrum: The Cashout Reward itself.

The monetization of points, miles and badges is where the rubber meets the road. Remember — gift cards are the one-size-fits-all stored value solution upon which any gamified loyalty program can successfully rely. eGifter Rewards is the underlying system that makes the bell ring, every time.

According to a MarketsandMarkets report, the global gamification industry will be valued at $11.1 billion by 2020, up from $1.65 billion in 2015. Personalized experiences that motivate and engage customers will be the game changer that distinguishes winners from losers.

Trends:

Small businesses will expand gamification to boost customer loyalty

Shifting gamification to mobile apps and social media

Augmented reality and virtual reality will power next-gen gamification design

Play comes easily to people as a remnant from their childhood. No wonder, then, that businesses are hoping to capitalize on gamification as a means to engage and retain customers in their loyalty programs.

How can you make gamification work for you?

Fun= Competition

VIP = Exclusive

Reward = Experience

Value = Everything

Random Rewards = Enchanted Customers

Loyalty programs can have a direct effect on the bottom line. Know your customers and what motivates them — and you’ll have the underpinning you need to build a successful game.

Bottom line: Cashing out with Gift Cards is the definite way to win, hands down.